Over the past several decades, there has been an increase in the use of market-based approaches for environmental policy. The purpose of this paper is three-fold: 1) to provide a review of the literature on auction-based ...

This paper addresses buyer market power in farm product procurement markets. We argue that buyer power concerns are often overstated because traditional models of buyer market power are incapable of depicting the economic ...

Asset obsolescence or external obsolescence is a decline in the economic value of capital because of a decrease in demand for the capital’s services. Measurements of sunk costs typically use appraised values of capital. ...

This paper determines the benefits and costs of firm-level advertising in a monopolistically competitive industry. The model is useful in an environment in which firm-level costs may be absent or imprecise. The empirical ...

When given the choice between $100 today and $110 in 1 week, certain people are more likely to choose the immediate, yet smaller reward. The present study examined the relations between temporal discounting rate and body ...